1 1 The Commercial Invoice and INCOTERMS Swanchester Group
2 Introduction Documents in International Trade 2 The Commercial Invoice Types of Invoices INCOTERMS
3 Documents in International Trade The Commercial Invoice The importance of the documents in the International Trade. 3 Proof of contract. Title to the goods. Information Commercial Invoice. Customs. Proof of compliance.
4 Information Documents The Commercial Invoice 4 Proforma Invoice (Factura Proforma) Commercial Invoice (Factura Comercial) Packing list/weight List (Lista de embalaje/ Lista de peso) 4
5 The Commercial Invoice 5 5
6 The Commercial Invoice and The Law In Spain: Real Decreto 1496/2003, de 28 de noviembre, por el que se aprueba el Reglamento por el que se regulan las obligaciones de facturación y se modifica el Reglamento del Impuesto sobre el Valor Añadido. 6 In US: 19 CFR Contents of invoices and general requirements.
7 FUNCTIONS: The Commercial Invoice 7 The seller's demand for payment A source of information for shipping documents The source document for destination customs clearance Information about the terms and conditions of a sales transaction The basis on which a claim must be made
8 The Commercial Invoice USED: 8 Customs Freight forwarders International bankers Transport Insurance companies
9 What should appear in a commercial invoice? The document title should clearly state "Commercial Invoice 9 The name of the exporter (referred to as the shipper) and their contact details The name of the importer (referred to as the consignee) and their contact details If the person or firm buying the goods (the importer) is not the same as the person or firm to whom the goods are being sent, then you should include both their contact details and addresses in the commercial invoice The name of the person and company to notify once shipment has taken place and their contact details and physical address A commercial invoice reference number
10 10 A purchase order number or similar reference The date of issue of the commercial invoice A complete, detailed and clear description of the goods in question, incorporating the appropriate HS codes and brandmarks if applicable The quantity of goods in question, including the number of units/items The packing details unless provided in a separate packing list, including their external dimensions, cubic capacity, weight, numbers and contents of each package shipped, and kinds of packaging involved- if a separate packing list is used, reference should be made in the commercial invoice to the packing list
11 11 The grand total price of the goods for the whole consignment Where applicable, the unit prices should be indicated The currency in which the goods will be sold The type and amount of any discount given, where applicable The likely delivery schedule and delivery terms The payment methods (for example cash in advance, L/C, etc.)
12 12 The payment terms (for example 30 days on sight) The Incoterm to be used (Incoterms FAS, CIF, CFR, DDP, etc). Who is responsible for the banking fees and other related costs (insurance and freight costs are covered by the Incoterm in question) What the freight and insurance charges are The exporter's banking details A declaration of the country of origin of the goods
13 13 The expected country of final destination Any freight details Any additional exporter-provided services that should be added to the invoice to come to the grand total. Any transhipment requirements such as the port of loading and discharge Indicate the total weight of your shipment The validity of the commercial invoice Any other information relevant to the order Make sure the commercial invoice is signed
14 Parts of a Commercial Invoice 14
15 The Commercial Invoice 15 English Legalese << We hereby certify that this is a true and correct invoice both as regards the prices and descriptions contained herein. We confirm that no other invoice has been or will be issued and that any particulars are in accordance with our books. Subject to all the terms and conditions printed hereof and of any agreement or licence between the said parties. This contract shall be governed by Incoterms 1990 and English Law apply>>. No standard format Original Accuracy
19 Types of invoices Proforma invoices: Estimated invoice sent by a seller to a buyer in advance of a shipment or delivery of goods. Kind and quantity of goods, value, weight, transportation charges Offer put to the importer by the exporter. It serves as a means of negotiating the actual contract.
21 21 Once the importer indicates that he is happy with the terms of the contract as outlined in the (final) proforma invoice, the exporter will then be requested to provide the importer with a commercial invoice. It should reflect the final agreed proforma invoice exactly - any deviances will result in problems executing the transaction and/or receiving payment.
22 Types of invoices Commercial/Export invoices: A customs declaration form used in international trade that describes the parties involved in the shipping transaction, the goods being transported, and the value of the goods. In exporting, the commercial invoice is considered a very important document as it serves as the starting document that supports an export transaction.
23 Based on the terms specified in this commercial invoice, the importer will instruct his/her bank (issuing bank) to issue a letter of credit. This letter of credit will also need to reflect the terms specified in the commercial invoice exactly, while all subsequent documentation must reflect the terms of the L/C. 23 Central role in an export transaction
24 Types of invoices Customs invoices: Extended form of commercial invoice required by customs in which the exporter states the description, quantity and selling price, freight, insurance, and packing costs, terms of delivery and payment, weight and/or volume of the goods for the purpose of determining customs import value at the port of destination. Some countries: commercial invoice to be completed on their own specified forms ("Customs' invoices ) and may be provided in addition to the standard commercial invoices referred to above.
25 Types of invoices Consular invoices: In international commerce, an invoice which is signed and sealed by a consul of the importing country who is posted in the exporting country. It builds trust between the buyer and seller and helps reduce the possibility that the seller (exporter) will overcharge the buyer (importer). The consular invoice must be prepared in the language of the destination country and can be obtained from the country's consulate.
26 INCOTERMS 26 "There is no organization better placed than ICC the organization that created and maintains the Incoterms rules to help traders learn how to apply the rules correctly to their global or domestic sales transactions." (Emily O'Connor, ICC Senior Policy Manager and Secretariat for the Drafting Group)
27 INCOTERMS 27 International Commerce Terms. A series of international sales terms, first published by the International Chamber of Commerce (ICC) in Widely used in international commercial transactions.
28 INCOTERMS They help traders avoid costly misunderstandings by claryfing the tasks, costs and risks involved in the delivery of goods from seller to buyer. 28 Nowadays, we have Incoterms The new Incoterms 2010 were launched in September 2010 and will come into effect on 1 January 2011.
29 INCOTERMS DO 29 Fix liability of buyer and seller. Fix division of costs Assume risks (loss or damage) Are adapted to contemporary commercial practices.
30 INCOTERMS DO NOT Dictate the contract of carriage (title or ownership/bill of Lading) Include all the duties of the buyer and seller. Deal with breach of contracts. Deal with exemptions from liability in case of impediments. Speak about payment terms. 30
31 Incoterms 31
32 Incoterms International Commercial terms known as incoterms Do not cover ownership or transfer of the title of goods The importance of knowing which Incoterm is used at the start of negotiation/quotation of a sale 32 International Chamber of Commerce
33 Sales transactions Incoterms Exporters should determine which Incoterm works best for the company Inexperienced exporters may use Incoterm Exworks A sale based on Incoterm CIF : Exporter has to arrange and pay for pre-carriage, shipping, insurance 33
34 Incoterms Incoterms on a commercial invoice or quotation to buyer: Term should be followed by city or port of load/discharge e.g. ExWFactory,Richmand,Va CIF Rotterdam Communication is crucial Under EXworks the shipper should notify the importer when the goods are ready 34
35 Incoterms The most burdensome Incoterm for exporter is Delivered Duty Paid (DDP) Shipping DDP assumed by the most experienced exporters Many details considered Many questions asked 35
36 TERMS 36 Group E Departure Group F- Main carriage paid by buyer Group C Main carriage paid by seller Group D - Arrival
37 GROUP F (Main carriage paid by buyer) FCA- Free Carrier FAS- Free alongside Ship FOB- Free on Board 37
38 FCA Free carrier 38 (Named places) Seller fulfills its obligations once it hands over the goods into the custody of the carrier named by the buyer FCA can be used for all means of transport Buyer s obligation to receive seller s arriving vehicle unloaded
40 FAS Free alongside ship 40 (Named loading port) Seller fulfills its delivery obligations once it has placed the goods alongside ship in dock or landing area Risks pass to buyer once delivered alongside ship by seller Used for sea or inland waterway transportation
42 FOB Free on board 42 (Named loading port) Seller fulfills its delivery obligation once it has placed the goods on board the vessel Risks pass to buyer once delivered on board the ship by seller Used for sea or inland waterway transportation
44 INCOTERMS: GROUP C MAIN CARRIAGE PAID 44 Two critical division points: division of costs and division of risk. - Costs SELLER destination point - Risk BUYER point of shipment
45 45 ANY MODE OF TRANSPORT INCLUDING MULTIMODAL SEA AND INLAND WATERWAY TRANSPORT CPT Carriage Paid To CFR Cost And Freight CIP Carriage And Insurance Paid To CIF Cost, Insurance and Freight
46 46 CFR "Cost and Freight" (...named port of destination) SELLER costs and freight port of destination. Risk: transferred to the BUYER once the goods have crossed the ship's rail. Insurance: NOT included.
48 CIF "Cost, Insurance, and Freight" 48 (...named port of destination) SELLER costs and freight port of destination. Risk: transferred to the BUYER once the goods have crossed the ship's rail. SELLER insurance premium (on minimum cover).
50 50 CPT "Carriage Paid To" (...named place of destination) SELLER cost of carriage named destination. Risk of loss or damage to the goods transfers from the SELLER to the BUYER when the goods have been delivered to the custody of the final carrier. CARRIER: person who, in a contract of carriage, undertakes to perform or to procure the performance of transport (by rail, road, sea, etc.)
52 CIP "Carriage And Insurance Paid To" 52 (...named place of destination) SELLER cost of carriage named destination. Risks and any additional costs transfers from the SELLER to the BUYER when the goods have been delivered. SELLER insurance premium (on minimum cover).
54 String sales INCOTERMS Only the first SELLER is responsible for shipping the goods. New Rules: CIF and CFR now refer to an obligation to contract or procure a contract for the carriage of the goods Terminal handling charges - Incoterms 2000 Rules (e.g. CIF/CFR): BUYER potentially faced paying for the same service twice. - Incoterms 2010: allocating such costs under the relevant Rules.
56 GROUP E (departure) 56
57 57 EXW Ex works EXW is used for any mode of transportation. The seller has the goods ready for collection at his premises. The buyer does the rest. The seller will not contract any transportation. ( named place) The greatest responsibility on the buyer and minimum obligations on the seller.
59 GROUP D (arrival) The seller bears all the costs and risks in shipping the goods to the country destination. It is formed by 5 types: - DAF* - DES* - DEQ* - DDU* - DDP 59
60 60 DAF Delivery at Frontier (...named point) This term is used for any mode of transportation but must be delivered by land. The seller pays for transportation to the named place of delivery at he frontier. The buyer arranges for customs clearance and pays for transportation from the frontier to his factory. The passing of risk occurs at the frontier.
62 DES Delivered Ex Ship 62 ( named port of destination) This term is used for ocean shipments only. The seller has to bear all the costs and risks involved in bringing the goods to the named port of destination before discharging. The passing of the risks when the goods made available for unloading to the buyer.
64 DEQ Delivery Ex Quay 64 This term is used for ocean shipments only. ( named port of destination) The seller has to bear all the costs and risks involved in bringing the goods to the named port of destination and discharging the goods on the quay. The passing of risk occurs when the goods have been unloaded at the port of destination.
66 DDU Delivery Duty Unpaid 66 ( named destination place) This term is used for any mode of transportation. The seller delivers the goods to the buyer to the named destination place not unloaded and cleared The buyer bears the costs and risks for the unloading, duty and any subsequent delivery beyond the place of destination.
68 DDP Delivered Duty Paid 68 ( named destination place) This term is used for any mode of transportation. The seller pays for all transportation costs and bears all risk until the goods have been delivered and pays the duty. DDP represents the maximum obligation for the seller.
70 INCOTERMS 2010 The DAF, DES, DEQ, and DDU designations have been eliminated. They have been added: -DAT (Delivered at Terminal) it replaces DEQ. 70 -DAP (Delivered at Place) it replaces DAF, DES, DEQ and DDU. They attempt to better take into account the role cargo security and electronic data interchange now play in international trade.
71 DAT DAT (Delivered at Terminal) replaces DEQ (Delivered ex Quay). DAT may be used irrespective of the mode of transport selected and may also be used where more than one mode of transport is employed. Delivered at Terminal means that the seller delivers when the goods, having been unloaded from the arriving means of transport, are placed at the buyer s disposal at a named terminal at the named port or place of destination. DAT requires the seller to clear the goods for export where applicable but the seller has no obligation to clear the goods for import, pay any import duty or carry out any import customs formalities. It was considered that DAT would prove more useful than DEQ in the case of containers that might be unloaded and then loaded into a container stack at the terminal, awaiting shipment. There was previously no term clearly dealing with containers that were not at the buyer s premises.. 71
72 DAP 72 DAP (Delivered at Place) replaces DAF, DES, DEQ and DDU. The arriving vehicle under DAP could be a ship and the named place of destination could be a port. Consequently, the ICC considered that DAP could safely be used instead of DES and that it would make the Rules more user-friendly if they abolished terms that were fundamentally the same. Again, a seller under DAP bears all the costs (other than any import clearance costs) and risks involved in bringing the goods to the named destination
73 Bibliography: 73 Socorro Trujillo, K. (2008): Aspectos textuales y terminológicos de documentos mercantiles del comercio internacional: Herramientas aplicables a la formación de traductores. Servicio de publicaciones y difusión científica. Universidad de las Palmas de Gran Canaria. Páginas web: COMERCIAL)
74 Kingdom/Investing-Trade-Regulations-and-Standards-in-the-UK.html pag-/Diccionario+de+comercio+exterior/factura+comercial.htm ml 74
APPENDIX V: INTERNATIONAL COMMERCIAL TERMS (INCO) INCOTERMS (INternational COmmercial Terms) 2000, published by the International Chamber of Commerce (2000 pub 560), are the most commonly accepted terms
DSV Air & Sea Inc. Incoterms 2010 Introduction Guidelines Contents Section Page 1 What do I need to know about Incoterms 2010? 3 2 What is Incoterms 2010 and how does it differ from Incoterms 2000? 4 3
INCO Terms INCO Terms The seven rules defined by Incoterms 2010 for any mode(s) of transportation are: EXW: Ex Works (named place of delivery) The seller makes the goods available at its premises. This
Incoterms 2010- An overview Who Pays for what? Goods move across international borders because there has been a sale involving:- Seller Buyer Contract of sale should define the responsibilities of both
INCOTERMS 2010 INTERNATIONAL COMMERCIAL TERMS (CONTRACT OF SALE) Incoterms Key elements of international contracts of sale. They tell the parties what to do with respect to carriage of the goods from buyer
INCOTERMS 2000 The purpose of Incoterms 2000 is to provide a set of international rules for the interpretation of the most commonly used trade terms in foreign trade. Thus, the uncertainties of different
Australian Cargo Advice Incoterms 2010 Number 2010/13 This notice is to advise that the International Chamber of Commerce (ICC) has revised Incoterms 2000 to reflect changes in international and domestic
AN INTRODUCTION 1 Copyright CargocandisFürst WHAT THEY ARE Incoterms is an abbreviation of International Commercial Terms Incoterms are published by the International Chamber of Commerce First published
10. Incoterms The Incoterms rules or International Commercial Terms are a series of pre-defined commercial terms published by the International Chamber of Commerce (ICC) that are widely used in International
Incoterms 2010 A practical guide to Incoterms 2010 When negotiating an international sales contract, you need to pay as much attention to the terms of sale as to the sale price. Minimize confusion by using
Incoterms 2010 The eighth published set of pre-defined terms, Incoterms 2010 defines 11 rules, reducing the 13 used in Incoterms 2000 by introducing two new rules ("Delivered at Terminal", DAT; "Delivered
2010 Incoterms: Imant Developments that Businesses and Professionals Should Note Gary P. Tober Garvey Schubert Barer Seattle, Washington 206.464.3939 Introduction International commercial terms, or Incoterms,
93 GUIDE TO Incoterms International Commercial Terms When global companies enter into contracts to buy and sell goods they are free to negotiate specific terms. These terms include the price, quantity,
EXW (insert named place of delivery) Incoterms 2010 EXW The only responsibility of the seller is to places the goods at the disposal of the buyer at the seller s premises or at the named place. The buyer
A Guide to the new Incoterms 2010 (effec7ve as of 01/01/2011) Who pays for what? Goods move across interna7onal borders because there has been a sale involving: Seller Buyer Contract of sale should define
What are Incoterms? International Commerce Terms (Incoterms) are an internationally recognised standard trade terms that set out buyer and seller responsibilities. Incoterms are maintained and developed
INCOTERMS IN TWO MAJOR GROUPS Incoterms has become a famous term in the international freight world. In fact it is a word that is copyrighted by the International Chamber of Commerce (ICC). Following some
Article 7 - Incoterms Incoterms 2000 have been updated by Incoterms 2010 and therefore the old post below is now redundant.. Please read the analysis about Incoterms 2010 here.. -------------------------------------------------------------------------------------------------------------------------------
Incoterms 2000 SCA Transforest EXW Ex works at the buyers disposal at agreed place and time the time the goods are placed at buyers disposal at agreed place and time Bear all costs until at buyers disposal
The structure of Incoterms (Copyright INCOTERMS) : Group E Departure Main Carriage Unpaid Group C : Main Carriage Paid Arrival : EXW Ex Works (... named place) FCA Free Carrier (... named place) FAS Free
Logistics Containerized Cargo Twenty-Foot Equivalent Units (intermodal shipping container) 1 TEU 20 long container 2 TEUs per 40 long container World Trade Practices Chapter 14 FCL= full container load
International Chamber of Commerce (ICC) Peak representative world business organization Established 1919 Fundamental mission is to promote trade and investment across frontiers and help business corporations
Local National International Quick Reference Guide to Incoterms 2010 Overview The Incoterms rules are an internationally recognized standard and are used worldwide in international and domestic contracts
Incoterms - CFR/CIF CFR (CNF/C&F) (Cost and Freight) has a long history in the INCOTERMS. As an INCOTERM, seller passes the risk to the buyer when the cargo crosses the ship's rail at the port of origin.
INCOTERMS 2015 An overview International Commercial Terms ( Incoterms ) are internationally recognized standard trade terms used in sales contracts. They re used to make sure buyer and seller know: Who
2 World Trade Press World Trade Press Illustrated Guide to Incoterms 2010* 800 Lindberg Lane, Suite 190 Petaluma, California 94952 USA Tel: +1 (707) 778-1124 x 3 Fax: +1 (707) 778-1329 www.worldtradepress.com
International Commercial Terms (INCOTERMS) The INCOTERMS (International Commercial Terms) is a universally recognized set of definitions of international trade terms, such as FOB, CFR and CIF, developed
Incoterms 2000 Enterprise Europe Network London August 2010 CONTENTS 1. What are Incoterms?... 3 2. How to incorporate Incoterms into your contract?... 3 3. Who chooses the applicable Incoterm rule?...
INCOTERMS NOTES WHAT INCOTERMS 2010 RULES ARE 11 terms of shipment and delivery provided by the International Chamber of Commerce for use in contracts for the business-to-business sales/purchases of tangible,
Introduction to Incoterms 2010 May 17, 2012 Incoterms 2010 Background Purpose General Notes Important changes for 2010 What Incoterms don t do What Incoterms aren t Recommended Usage Incoterm Groupings
INCOTERMS Incoterms, promulgated by the International Chamber of Commerce, is an acronym for International commercial terms, and provide a standard set of definitions for trade terms (also known as delivery
CUSTOMS CLEARANCE & INCOTERMS 2010 A Knowledge Transfer by Airlift Asia Inc for the Association of SEIPI Logistics Managers November 22, 2012 The Palms Country Club, Muntinlupa 2 Hello! My name is Dino
INTERNATIONAL SHIPPING POLICY 2012 The following is a checklist of information that must be listed on any International Purchase Order before it is accepted and processed. Name and invoicing address of
A Practical Approach to Incoterms 2010 Presented By: Lori Koss, Logistics Supervisor for Carestream Health, Licensed US Customs Broker. Carestream Health, 2014 p.2 2010 Incoterms Changes Goal was to simplify
International Terms of Sale: Incoterms Webinar Miller & Company P.C. Charles W. Ballard Kansas City, Missouri June 14, 2012 What are Incoterms? Incoterms are internationally agreed-upon definitions for
Introduction to Incoterms 2010 May 9, 2013 Presenter Theresa Sekula Manager, BDP Corporate Compliance Team Joined BDP in 2005, various roles including marine procurement, operations, and compliance roles
An Introduction to INCOterms & impact on transaction structuring PATRICK MAWIRE 3 June 2015 INCOterms 2010 International commercial terms World-recognized standard Should be incorporated into every sales
INCOTERMS 2010 INCOTERMS 2010 (International Commercial Terms) Regardless of whether you send something to a customer or order something from a supplier, your freight must arrive on time; otherwise you
Financial Instruments TRADE DICTIONARY COMMONLY USED TRADING TERMS LC : Letter of Credit - ICC UCP500 guidelines. DLC :Documentary Letter of Credit - Issued and guaranteed by the bank for the full amount
SHIPPER S GUIDE Sinotrans (HK) Logistics Limited have rich experience in shipping agency and freight forwarding and gained a lot of support and advice from our customers in the pass. Nowadays, our services
1 DDP Delivered Duty Paid Delivered Duty Paid means that the seller delivers the goods to the buyer, cleared for import, and not unloaded from any arriving means of transport at the named place of destination.
Any mode of Seller/Exporter 'S RISKS 'S EXW of: D e s tin a tio n : RISKS B u ye r/ e r Ex Works 'S COSTS 'S COSTS EXW, Ex Works (...named place) In Ex Works, the seller/exporter/manufacturer merely makes
6 Negotiating with Your Supplier: Terms to Protect Your Company What are Incoterms? 11 Terms of shipment and delivery for use in contracts for B2B sales/purchase goods Developed by the International Chamber
Financial Institutions in Food Business Day 3, Plenary Session I, 1000 Hrs-1115 Hrs, 19 th Dec 2009, MSME DI,Guindy, Chennai Presented By: H M Sathyamurthy Tamil Nadu Technology Development & Promotion
LOGISTICS EXPERIENCE Unmatched knowledge and experience gives us the ability: to deliver vehicles safely to deliver vehicles efficiently to deliver vehicles cost-effectively to deliver vehicles to even
ICC Guide to Incoterms 2010 By Jan Ramberg 33-43AvenueduPrésidentWilson 75116Paris,France 978-92-842-0226-3 Contents Introduction 7 The evolution of the Incoterms rules from 1936 to 2010 8 The ICC Model
New Incoterms Rules in effect January 1, 2011 / Adv. Dan Zaum* Export transactions generally involve international sales contracts, whose clarity of terms is crucial to avoiding disputes between parties.
Customer Submitted Case Studies Case Study: Functional Overview on Letter of Credit Author: Deepak Seeruwani, Consultant Contributors: Naveen Rangineni, Consultant Skill Level Rating for this Case Study:
Want to start or grow your import/export business? Learn how from industry experts. View our training schedule Differences between 2000 and 2010 Incoterms Incoterms are revised periodically. he current
A Brief Introduction to Logistics A Brief Introduction to Logistics The international freight market has a wealth and variety of transport providers to meet the needs of international trading companies
INCOTERMS 2010: Implications and Nuances www.morganlewis.com Presented by: Morgan, Lewis & Bockius LLP Margaret M. Gatti, Louis K. Rothberg Timothy M. Rolland Outline of Presentation I. Introduction to
The INCOTERMS rules and their importance Lecturer Ph.D. Candidate Anca LAZĂR 1 Abstract The content INCOTERMS are a set of rules that determine the rights and obligations of the international sales contract,
CIP Carriage & Insurance Paid To Carriage and Insurance paid to means that the seller delivers the goods to the carrier nominated by him but the seller must in addition pay the cost of carriage necessary
CIF Cost, Insurance & Freight Cost, Insurance and Freight means that the seller delivers when the goods pass the ship's rail in the port of shipment. The seller must pay the costs and freight necessary
Incoterms 2000 English www.if.fi THE TRADE TERMS OF THE INTERNATIONAL CHAMBER OF COMMERCE WHAT IS A TRADE TERM? A trade term is a combination of letters or words, which specifies certain obligations within
Associa'on of Corporate Counsel s Small Law Department QuickHits Using INCOTERMS in Your Next Domestic or International Contract Presented by: John Dimitry Key Principles Ø Incoterms are delivery conditions
INCOTERMS 2010 Presented Exclusively for Why INCOTERMS? Delivery of goods in an export-import transaction requires Using one or more segments of transportation A variety of services to arrange the transportation,
Incoterms This guideline is also posted on the UNOPS intranet: Main Page Practices Procurement How to guides Organizational Effectiveness Centre 20 ecember 2006 Contents 1 WHAT ARE INCOTERMS... 2 2 WHAT
Export Essentials: Export Pricing, Quoting & Terms of Sale Food Export Association of the Midwest USA & Food Export USA -Northeast Food Export Marketing Forum September 29 th, 2010 Chicago Illinois Agenda
Learning unit manual: INCOTERMS 2000 Course Contents 1. What are Incoterms? 2. Analysis Comparative Tables 3. Group E: EXW 4. Group F: FAS FCA FOB 5. Group C: CFR CIF CPT CIP 6. Group D: DES DEQ DDU DDP
A Guide to Letters of Credit Import Export Table of Contents Introduction 2 Parties Involved in a Letter of Credit 3 What is a Letter of Credit? 4 Advantages and Disadvantages of Using a Letter of Credit
GLOSSARY OF TRADE AND PAYMENT TERMS ACCEPTANCE: Under a Letter of Credit, an acceptance drawn on and accepted by a bank that thereby becomes primarily liable to pay on the maturity date. ACCOUNTS PAYABLE:
Incoterms 2000 ICC Official Rules for the Interpretation of Trade Terms Entry into Force 1st January 2000 CONTENTS Foreword 4 Introduction 5 Incoterms 2000 EXW EX WORKS 27 (... named place) FCA FREE CARRIER
Fruit Juice Market - 04 April 2014 OVERVIEW: The fruit juice market is presently in a fairly quiet phase largely due to flat demand. Supply is generally reported to be regular with the exceptions of peach
The 13 Incoterms - FAQs about the basics Why Incoterms? Incoterms are international rules that are accepted by governments, legal authorities and practitioners worldwide for the interpretation of the most
Step 7 Transportation Qualifications of a Good Freight Forwarder How to Prepare an International Shipment How to Handle Small Shipments How INCOTERMS Affect Your Shipment Required Shipping Documents Why
Part Two. Studies and reports on specific subjects 599 i(i) upon issue of a certificate of Default by a third party (who may without limitation be an independent architect or engineer or a Pre-Arbitral
Common Terminology Logistics and Transportation B/L BAF CAF CSC Delivery Order LOGISTICS/TRANSPORTATION (Bill of Lading) A contract of carriage, used by ocean, inland waterway, rail and truck common carriers
COMPANY PROFILE PROFILE INDEX Introduction 3 Key Definitions 4 Features & Benefits 5 Standard Operating Procedure 6 Service Process 7 Service Undertaking 8 Contact Details 9 Trade Finance Glossary 10 Page
Letters of Credit A Guide to Letters of Credit These manuals are created as resource guides for members of Saskatchewan Trade and Export Partnership (STEP). For more information on these manuals please
INDEX Introduction What can be imported by mode required Customs process Taxes and fees Operational flow to Brazil What can be imported by to Brazil mode required Customs process Taxes and fees WayBill
Contents List of Tables List of Figures Preface About the Authors Acknowledgements Glossary xii xiii xv xvii xviii xix 1 International Trade and Inherent Risks 1 Background of International Trade 1 Exporters
Shipment Routing Configurator Tool The Cisco Shipment Routing Configurator User Guide TABLE OF CONTENTS Shipment Routing Configurator Tool User Guide ABOUT THIS GUIDE... 4 ABOUT THIS GUIDE... 4 A QUICK
Transport insurance Guide Whether you are buying or selling goods from or to the international market, there is always a risk that they may be damaged, lost or delayed in transit. Most people in the supply
UNITED NATIONS ECONOMIC COMMISSION FOR EUROPE ABBREVIATIONS OF INCOTERMS Alphabetic Code for Incoterms 2000 RECOMMENDATION No. 5, fourth edition, adopted by the United Nations Centre for Trade Facilitation
INTERNATIONAL TRADE FINANCE SERVICES DOCUMENTARY LETTERS OF CREDIT A PRACTICAL GUIDE CONTENTS LETTERS OF CREDIT SIMPLY DEFINED.............................................2 BENEFITS OF A LETTER OF CREDIT...............................................3
Dutiable Shipments to, Russia. Service available only to Commercial Importers in Russia Strengthened control measures introduced by the Customs authorities in Russia (March 2010) to verify the full compliance
International Payments and Trade Finance - Upstate New York Trade Conference June 19 th 2014 Rochester, New York Payment Methods - Risk Risk Triangle - A Comparison of Payment Options Seller/Exporter High